With signs of resurgence emerging in the cryptocurrency market, Solana has regained attention from market participants. Following intense volatility, the altcoin has recently seen an upward movement, utilizing a two-year declining trendline for support. This price activity has led to divided viewpoints: some predict a strong short-term surge, while others caution about potential further declines.
Solana experienced a bounce after dropping to $67, climbing over 10% on Friday and crossing the $85 threshold. This move has kept the price fluctuating between $78 and $88 in the past week. Analysts emphasize the critical role of the $80 level, historically acting as a pivotal point of support and resistance, crucial for Solana’s price trajectory.
Solana’s recent rebound was triggered as it touched its two-year descending trendline once again. This trendline, repeatedly tested since early 2024, has often resulted in notable price reversals. A significant bounce in the second quarter of 2025 remains vivid for many, illustrating the trendline’s relevance.
Currently, $88 is observed as a vital resistance. Surpassing this level may pave the way toward the $90-$96 range. Holding steady above $80 is viewed as crucial for a strong technical perspective, though failure to maintain this could nullify bullish attempts quickly.
Recently, Bitcoin exhibited similar behavior, falling from heights over $80,000 and recovering around $70,000. This tentative recovery has affected high-beta assets like Solana, creating both amplified risks and opportunities.
More conservative analysts warn that Solana’s downward journey might not be over. Losing the 200-week exponential moving average and dipping below the April 2025 lows are regarded as signs of prevailing technical frailties. If Solana slips past the $77-$78 zone, revisiting the $51 mark remains conceivable, raising concerns for those on alert for downside dangers.
Some market experts present an even gloomier outlook. Viewing the 2022-2023 period as accumulation leading to 2024-2026 distribution, they suggest the market is undergoing a “markdown” phase. Within this context, the $40 level is posited as a potential bottom, casting doubt on immediate recovery prospects.
Solana currently trades around $84, slightly down on a weekly scale, keeping investors vigilant. Observers are focusing on technical cues and global risk sentiments to anticipate Solana’s next potential moves.
